Neumora Therapeutics (NASDAQ:NMRA) Receives Buy Rating from HC Wainwright

Neumora Therapeutics (NASDAQ:NMRA)‘s stock had its “buy” rating reissued by investment analysts at HC Wainwright in a note issued to investors on Wednesday,Benzinga reports. They presently have a $30.00 target price on the stock. HC Wainwright’s price objective suggests a potential upside of 175.23% from the stock’s current price.

Other analysts also recently issued research reports about the company. JPMorgan Chase & Co. downgraded Neumora Therapeutics from an “overweight” rating to a “neutral” rating and lowered their target price for the stock from $18.00 to $15.00 in a research note on Tuesday, November 5th. Royal Bank of Canada restated an “outperform” rating and issued a $29.00 target price on shares of Neumora Therapeutics in a research report on Wednesday, September 4th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $23.00 price objective on shares of Neumora Therapeutics in a research report on Wednesday. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $21.67.

Neumora Therapeutics Stock Performance

NASDAQ NMRA traded down $0.41 on Wednesday, reaching $10.90. 505,579 shares of the stock traded hands, compared to its average volume of 721,194. The company has a fifty day moving average price of $13.08 and a 200-day moving average price of $11.41. The company has a market cap of $1.74 billion, a price-to-earnings ratio of -5.91 and a beta of 3.92. Neumora Therapeutics has a 12 month low of $8.33 and a 12 month high of $21.00.

Neumora Therapeutics (NASDAQ:NMRA) last released its quarterly earnings results on Tuesday, November 12th. The company reported ($0.45) EPS for the quarter, missing the consensus estimate of ($0.38) by ($0.07). During the same period in the previous year, the company earned ($1.14) earnings per share. As a group, research analysts anticipate that Neumora Therapeutics will post -1.48 earnings per share for the current fiscal year.

Insider Buying and Selling at Neumora Therapeutics

In other Neumora Therapeutics news, Director Matthew K. Fust sold 14,049 shares of Neumora Therapeutics stock in a transaction on Friday, October 18th. The stock was sold at an average price of $17.03, for a total value of $239,254.47. Following the sale, the director now owns 20,100 shares in the company, valued at $342,303. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, insider Robert A. Lenz sold 5,563 shares of Neumora Therapeutics stock in a transaction on Wednesday, October 9th. The stock was sold at an average price of $15.01, for a total value of $83,500.63. Following the completion of the sale, the insider now directly owns 322,966 shares of the company’s stock, valued at approximately $4,847,719.66. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Matthew K. Fust sold 14,049 shares of Neumora Therapeutics stock in a transaction on Friday, October 18th. The shares were sold at an average price of $17.03, for a total value of $239,254.47. Following the completion of the sale, the director now directly owns 20,100 shares of the company’s stock, valued at $342,303. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 110,538 shares of company stock worth $1,390,513 over the last quarter. 26.40% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Neumora Therapeutics

A number of institutional investors have recently modified their holdings of the company. Price T Rowe Associates Inc. MD acquired a new position in Neumora Therapeutics during the 1st quarter worth $10,354,000. Callan Capital LLC grew its stake in Neumora Therapeutics by 222.6% during the 2nd quarter. Callan Capital LLC now owns 661,194 shares of the company’s stock worth $6,500,000 after purchasing an additional 456,207 shares in the last quarter. The Manufacturers Life Insurance Company grew its stake in Neumora Therapeutics by 79.5% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 111,828 shares of the company’s stock worth $1,099,000 after purchasing an additional 49,527 shares in the last quarter. Rhumbline Advisers grew its stake in Neumora Therapeutics by 488.3% during the 2nd quarter. Rhumbline Advisers now owns 103,258 shares of the company’s stock worth $1,015,000 after purchasing an additional 85,706 shares in the last quarter. Finally, Auour Investments LLC acquired a new position in Neumora Therapeutics during the 3rd quarter worth $3,302,000. 47.65% of the stock is owned by institutional investors and hedge funds.

About Neumora Therapeutics

Neumora Therapeutics, Inc, a clinical-stage biopharmaceutical company, engages in developing therapeutic treatments for brain diseases, neuropsychiatric disorders, and neurodegenerative diseases. The company develops navacaprant (NMRA-140), a novel once-daily oral kappa opioid receptor antagonist, which is in phase 3 clinical trials for the treatment of major depressive disorder.